Nano Dimension Ltd. (NNDM) Q2 2025 Earnings Call Prepared Remarks Transcript
Revenue $25.8 million, representing a year-over-year growth of approximately 72% compared to $15 million in the second quarter of 2024. This growth was driven primarily by Markforged whose results have been consolidated since the April 25 acquisition and contributed $16.1 million in revenue. Excluding Markforged, revenue was $9.7 million for the quarter, down 35% year-over-year, reflecting strategic divestitures and macroeconomic headwinds, including high interest rates and lingering tariff pressures.
Gross Profit $11.6 million, with gross margin of approximately 44.7%. This reflects a decrease compared to the prior year's gross margin of 46.1% and driven by lower revenue volumes and product mix. GAAP gross margin decreased to 27.3% from 44.7% in the prior year primarily due to the amortization of the fair value step-up of acquired Markforged inventory.
Operating Expenses $28.2 million, higher than the prior year due to combined operations with Markforged. However, on a stand-alone basis, Nano Dimension's operating expenses decreased by over 24% year-over-year, reflecting the benefits of focused efficiency initiatives and disciplined cost management.
Adjusted EBITDA A loss of $16.7 million compared to a loss of $14.6 million last year, primarily due to the inclusion of Markforged.
Cash, Cash Equivalents, and Investable Securities $551 million at the quarter end, which includes approximately $16 million of Desktop Metal-related balance compared to $840 million at the end of the first quarter. The decrease primarily reflects the cash considerations paid for the acquisitions of Desktop Metal and Markforged, totaling approximately $179.3 million and $115.1 million, respectively. As of August 31, cash, cash equivalents, and investable securities for Nano Dimension, including Markforged, totaled over $520 million.
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Nano Dimension (NNDM) Expects Q4 2025 Revenue of $35M–$35.5M, Exceeding Prior Guidance
- Revenue Guidance Increase: Nano Dimension anticipates Q4 2025 revenue of $35M–$35.5M, surpassing previous guidance of $31.5M–$33.5M, indicating robust demand across various sectors.
- Strong Sector Demand: The company’s performance is bolstered by strong demand in defense, aerospace, networking, automotive, and food & beverage sectors, reflecting its solid market position.
- Product Line Success: The strong performance of Markforged and Essemtec product lines is attributed to enhanced customer relationships and improved execution, showcasing the company's competitive edge in high-end manufacturing.
- Strategic Transition Plan: Nano Dimension began its transition to a U.S. domestic issuer on January 1, 2026, expecting to complete this transition in the first half of 2026, aiming to strengthen its influence and business integration in the U.S. market.
Nano Dimension (NNDM) Reports Q4 2025 Revenue Exceeding $35 Million
- Revenue Outperformance: Nano Dimension expects Q4 2025 revenue to range between $35 million and $35.5 million, surpassing the previous guidance of $31.5 million to $33.5 million, highlighting strong demand and market position in key sectors like defense and aerospace.
- Strategic Review Progress: The Board, supported by Guggenheim Securities and Houlihan Lokey, is advancing a structured strategic alternatives review process aimed at maximizing shareholder value, with more updates expected during the upcoming earnings call.
- Redomestication Update: The transition from a foreign private issuer to a U.S. domestic issuer began on January 1, 2026, with a Form 10-K filing anticipated in Q1 2026, enhancing transparency and aligning with U.S. market standards.
- Management Confidence: CEO David Stehlin noted that the Q4 performance exceeded expectations, reflecting efforts to reduce cash burn and execute priorities, further solidifying key customer relationships and driving revenue growth.
